UVA and the alleged frat rape - Rolling Stone backpedals

Not getting anything from Wenner Media either. They can just add themselves to a list of creditors. Jann Wenner himself has been selling off his equity. And the company is loaded up with debt. In a move I still scratch my head over, they sold 50 percent of US Weekly to Disney for $40 million, and 5 years later borrowed $300 million to buy back the stake. Wenner has been diligently paying down the debt (he has no choice, because the terms were stringent), but I believe the company is still about $60 million in the hole. I believe the terms of the debt are really aggressive in terms of payback, because the lenders saw the handwriting on the wall that the business is in a steady decline.